01 Mar 2023, 17:19
India’s third-largest private lender Axis Bank on Wednesday said it has completed the acquisition of Citibank’s consumer business. Valued at ₹11,603 crore, the deal includes Citibank’s lucrative credit card customer base, retail banking, loans, and wealth management services. Announced in March 2022, the transaction is now complete, three months ahead of Citibank’s expectations. As part of the deal, approximately 3,200 Citibank employees will also be absorbed by Axis Bank.